ChainCatcher News, the U.S. Department of the Treasury has released the 2024 National Strategy for Combating Terrorist and Other Illicit Financing, outlining priorities for combating illicit financing. The Treasury emphasized its ongoing work surrounding cryptocurrencies, including sanctions against certain trading platforms and groups such as Bitzlato and Lazarus, as well as a settlement with Binance.The four priorities of the U.S. Department of the Treasury are to close gaps in anti-money laundering regulations, support a more effective and risk-based framework, enhance the efficiency of law enforcement agencies, and leverage technological innovation. Updating the existing cryptocurrency regulatory framework will support these priorities.

ChainCatcher News, the U.S. Department of Justice has officially recognized the cryptocurrency exchange Bitzlato as a major money laundering entity related to illegal finance in Russia. Bitzlato's founder and majority owner, Anatoly Legkodymov, was arrested last night in Miami and is scheduled to appear for a hearing this afternoon in the U.S. District Court for the Southern District of Florida. He is accused of operating a money laundering business, violating U.S. regulatory safeguards, including anti-money laundering laws. Additionally, French authorities and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) are also taking simultaneous enforcement actions.It is reported that Bitzlato is a cryptocurrency exchange registered in Hong Kong and operating globally. Bitzlato has very low identity verification thresholds for users, providing a funding channel for darknet drug trafficking and a range of criminal activities. (Source link)